Emap maintains sales of glossy magazines are still strong with the release of its full-year results.
Chief
executive Tom Moloney was upbeat about the future of the company’s
consumer magazines, especially Grazia, its new women’s weekly launched
in February.
Grazia saw the UK’s biggest-ever investment budget for a magazine.
Involving
a team of six former magazine editors, headed up by Fiona McIntosh,
previously editor of Elle, the magazine looks set for a further
investment this year.
Related
According to Moloney, “there is no let up
in the demand for celebrity news”, with a combined circulation of Heat
and Closer reaching 1m.
This is in contrast to its magazine
business in France, which has fared considerably less well. It is hoped
the announcement of the launch of a £9m new weekly will turn its
fortunes around.
Overall the company saw pre-tax profits for the
year to March of £112m, down 22 per cent, much of which was from poorly
performing magazine acquisitions.
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